{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{8}{c}}
\toprule
                &\multicolumn{8}{c}{Updating}                                                   \\\cmidrule(lr){2-9}
                &\multicolumn{1}{c}{(1)}&\multicolumn{1}{c}{(2)}&\multicolumn{1}{c}{(3)}&\multicolumn{1}{c}{(4)}&\multicolumn{1}{c}{(5)}&\multicolumn{1}{c}{(6)}&\multicolumn{1}{c}{(7)}&\multicolumn{1}{c}{(8)}\\
\midrule
                &         &         &         &         &         &         &         &         \\
Shock (a)       &0.431\sym{***}&0.344\sym{***}&0.347\sym{***}&0.278\sym{***}&0.318\sym{***}&0.359\sym{***}&0.286\sym{***}&0.275\sym{***}\\
                &  (0.064)&  (0.049)&  (0.046)&  (0.045)&  (0.044)&  (0.081)&  (0.050)&  (0.098)\\
                &         &         &         &         &         &         &         &         \\
Shock $\times$ (b) &-0.153\sym{**}&         &         &         &         &         &         &         \\
High education  &  (0.075)&         &         &         &         &         &         &         \\
                &         &         &         &         &         &         &         &         \\
Shock $\times$ (b) &         &   -0.053&         &         &         &         &         &         \\
High earnings   &         &  (0.068)&         &         &         &         &         &         \\
                &         &         &         &         &         &         &         &         \\
Shock $\times$ (b) &         &         &   -0.070&         &         &         &         &         \\
Age$>$44        &         &         &  (0.068)&         &         &         &         &         \\
                &         &         &         &         &         &         &         &         \\
Shock $\times$ (b) &         &         &         &    0.091&         &         &         &         \\
Female          &         &         &         &  (0.069)&         &         &         &         \\
                &         &         &         &         &         &         &         &         \\
Shock $\times$ (b) &         &         &         &         &    0.016&         &         &         \\
Non-cyclical industry&         &         &         &         &  (0.072)&         &         &         \\
                &         &         &         &         &         &         &         &         \\
Shock $\times$ (b) &         &         &         &         &         &   -0.048&         &         \\
Never unemployed&         &         &         &         &         &  (0.089)&         &         \\
                &         &         &         &         &         &         &         &         \\
Shock $\times$ (b) &         &         &         &         &         &         &    0.050&         \\
Low county unemployment&         &         &         &         &         &         &  (0.070)&         \\
                &         &         &         &         &         &         &         &         \\
Shock $\times$ (b) &         &         &         &         &         &         &         &    0.058\\
High financial literacy&         &         &         &         &         &         &         &  (0.119)\\
                &         &         &         &         &         &         &         &         \\
Pr(a+b)=0       &    0.000&    0.000&    0.000&    0.000&    0.000&    0.000&    0.000&    0.000\\
                &         &         &         &         &         &         &         &         \\
Observations    &     1124&     1124&     1124&     1124&     1088&     1124&     1106&     1124\\
\bottomrule
\end{tabular}
}
